This presentation was part of the Growing Entrepreneurial Communities Summit, a practitioner-focused summit designed to help economic development and small business practitioners effectively create economic growth through entrepreneurship in local communities. The 2018 Summit, subtitled Entrepreneurship on the Edges, focused on providing information and practitioner insight in how to effectively develop disadvantaged urban and rural communities using entrepreneurship-led development strategies.

1. Col l abor at i ng f or
Regi onal Vi t al i t y
Southern Minnesota
Initiative Foundation
Pam Bishop
Vice President Economic
Development

2. Col l abor at i ng f or
Regi onal Vi t al i t y
Vision & Mission
VISION FOR THE REGION
Southern Minnesota will be a prosperous and growing region with
vibrant communities, innovative and successful economies, and
engaged and valued citizens.
MISSION
Southern Minnesota Initiative Foundation is a regional development
and philanthropic organization that fosters economic and community
vitality in 20 counties of southern Minnesota through a culture of
collaboration and partnership.

3. Col l abor at i ng f or
Regi onal Vi t al i t y
Catalyst for Economic Growth
• Invested over $106 million in region since 1986
– $46.2 million – programming
– $29.7 million – loans
– $30.5 million – grants
• Leverage $10 for every $1 in local contributions
• Regional endowment fund exceeds $35 million
• Awards about $5 million annually
• Acts as regional collaborator

4. Col l abor at i ng f or
Regi onal Vi t al i t y
Focus Areas
• Early Childhood Development
– Social Emotional Readiness
– School Readiness Support
• Economic Development
– Financial Support
– Business Expertise
• Community Development
– Community & Designated Funds
– Farmland Retention
– Regional Work/Connections

5. Col l abor at i ng f or
Regi onal Vi t al i t y
Our 20-County Region

6. Col l abor at i ng f or
Regi onal Vi t al i t y
Our 20-County Region
ISOLATION

7. Col l abor at i ng f or
Regi onal Vi t al i t y
Incubators
The Park
(Waseca)
ALEDA
(Albert Lea)
Start Up Factory
(Austin)
Makerspace
(Spring Grove)
Business
Incubator
(Owatonna)
BioAccelerator
& Collidor
(Rochester)
IGNITE
(Red Wing)
SPUR
(Northfield)
MSU Center for
Innovation
(Mankato)
Commercial
Kitchens
(St. James)

8. Col l abor at i ng f or
Regi onal Vi t al i t y
Equity FundsSouthern Minnesota
Initiative Foundation
Southeast Minnesota
Equity Fund
Gopher Angels +
Granite Equity
Golden Triangle

9. Col l abor at i ng f or
Regi onal Vi t al i t y
FEAST Smart Start Initiative

10. Col l abor at i ng f or
Regi onal Vi t al i t y
Contact
TIM PENNY President & CEO
Southern Minnesota Initiative Foundation
525 Florence Ave, Owatonna, MN 55060
507-455-3215 l timp@smifoundation.org
www.smifoundation.org
@smifound @tim_penny #soMNlove